On November 12-13, 2019, Galvanize Boulder hosted the 2019 Lab Venture Challenge. Think Shark Tank! Eleven entrepreneurs pitched their product to six seasoned venture capitalists for a chance to win $125,000 to advance the commercialization of their product. The driving force behind the challenge was to boost Colorado’s economy by financially supporting promising laboratory research work that has the potential to be commercialized. One venture capitalist stated that he was looking for a solid product that solves a problem and has existing partners.
The rules are simple:
Additionally, two contestants, one from each category, receives an audience choice award in the amount of $1,000.
The lucky winners in the bioscience field were:
And in the physical science field:
Galvanize Boulder boasts, that in just 3 years more than 20 commercially viable projects have received funding through their program. Additionally, 16 new startup companies won a “leg up” with funds awarded through this competition. It is estimated since the inception of this program, approximately $794 million has been placed back into Colorado’s economy.